Google: Users are More Interested in Bitcoin Than Gold

November 8, 2017

According to Google Trends, the request 'buy Bitcoin' bypassed the request 'buy gold'. At the same time, the request related to the cryptocurrency gained 100 points out of 100 possible on the scale of popularity. Gold gained 'only' 74. Most of the interest to digital currencies came from Nigeria, Ghana and Australia.

The reason for the interest of ordinary people and professional investors in bitcoin is very obvious. While gold rises in price by 11%, bitcoin for the same period took a mark of 600%. Moreover, the number of hedge funds that are investing in the digital currency increased from 30 to 130. But after the announcement of the bitcoin futures from the CME Group the ratings and, accordingly, the price of bitcoin skyrocketed.

"Against the backdrop of the American market, which beats one record after another, it's no wonder that gold is losing ground," said BullionVault's director of research Adrian Ashe.